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竞彩足球推荐(www.99cx.vip):New judicial commissioner to hear Irwan, Arul Kanda\u2019s bid to strike 1MDB suit

竞彩足球推荐(www.99cx.vip):New judicial commissioner to hear Irwan, Arul Kanda\u2019s bid to strike 1MDB suit

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Mohd Irwan Serigar Abdullah's (pic) bid to strike 1MDB's suit against him and Arul Kanda Kandasamy will be heard by new judicial commissioner Roz Mawar Rozain on October 19. – The Malaysian Insight file pic, August 16, 2022.

THE applications by former Treasury secretary-general Mohd Irwan Serigar Abdullah and former 1Malaysia Development Bhd (1MDB) chief executive officer Arul Kanda Kandasamy to strike a US$6.59 billion (RM29.44 billion) suit filed by 1MDB against them will be heard by a new judicial commissioner at the Kuala Lumpur High Court. 

This was informed by Irwan’s lawyer, Lavinia Kumaraendran, when contacted by the media after the case management, which was conducted online before senior assistant registrar Azlinda Ahmad Sharif today.

According to the lawyer, the application will be heard before judicial commissioner Roz Mawar Rozain, who is replacing judge Amarjeet Singh, who will be transferred to the High Court’s Appeal and Special Powers Division. 

“The date for hearing of the application, on October 19, which was previously set, is maintained, and further case management is set for September 27,” she said. 

Arul Kanda filed his application to strike out the suit last June, while the application by Irwan was filed on February 18.

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In his application, Irwan, among others, alleged the suit against him was premature as the investment of Brazen Sky Ltd and the payment of Aabar Investments PJS Ltd were not clearly unsustainable as the court has yet to determine that 1MDB suffered losses of US$1.83 billion and US$3.5 billion. 

1MDB filed the suit against Arul Kanda and Irwan in May last year, alleging that the two defendants had committed breach of trust and conspiracy causing 1MDB to suffer losses amounting to US$1.83 billion in relation to its investment in 1MDB-Petrosaudi Ltd which was converted into the alleged Brazen Sky investment said to be found in the Bridge Global Fund. 

1MDB also alleged that the two defendants committed breach of trust and conspiracy by misappropriating 1MDB money amounting to US$3.5 billion paid to Aabar Investments and US$1.265 billion paid to the International Petroleum Invsetment Company on May 9, 2017. 

1MDB claims Irwan also conspired with Arul Kanda to cause the company to implement the Employment Extension Agreement and made a substantial payment of RM2,905,200 to Arul Kanda in accordance with the agreement, regardless of 1MDB’s interests, causing the company to suffer losses and damage.

In this regard, 1MDB among others demanded that the two defendants pay US$6.59 billion for the breach and an additional RM2.9 million from Irwan in relation to the Employment Extension Agreement. – Bernama, August 16, 2022.

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    2022-09-02 00:11:32 

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